Ironwood Pharmaceuticals (NASDAQ:IRWD) stock is falling on Thursday after the gastrointestinal healthcare company released results from a Phase III clinical trial.
This clinical trial covers the use of once-weekly subcutaneous apraglutide as a treatment for short bowel syndrome with intestinal failure (SBS-IF). The goal of this study was to reduce reliance on parenteral support (PS) dependency in adult patients.
Ironwood Pharmaceuticals notes that the clinical trial met its primary endpoint of relative change from baseline in actual weekly PS volume at week 24. That resulted in a 25.5% drop compared to a 12.5% versus placebo.
Another thing that’s worth noting is the secondary endpoints of the study. There were four in total, but the Phase III trial only managed to complete two of them. This might explain why shares of IRWD stock are down today.
What’s Next for IRWD Stock
Ironwood Pharmaceuticals says it intends to submit a new drug application (NDA) and other regulatory filings, including this clinical trial data. The company is seeking approval to use apraglutide in adults with SBS-IF that are PS-dependent.
Investors don’t seem to share Ironwood Pharmaceuticals’ positive outlook today, as shares are falling 27.3% as of Thursday morning. That comes with more than 931,000 shares changing hands. This is still well below its daily average trading volume of about 2.9 million shares.
Investors searching for more of the most recent stock market stories are in the right place!
We’re offering insight into all of the hottest stock market stories worth reading about on Thursday! That includes everything happening with shares of Chemours (NYSE:CC) stock, Volcon (NASDAQ:VLCN) stock and Societal CDMO (NASDAQ:SCTL) stock this morning. You can find out more on these matters down below!
More Stock Market News for Thursday
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- Why Is Societal CDMO (SCTL) Stock Up 133% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
